Nava Health MD and 99 Acquisition Group today announced a definitive merger agreement at a potential equity value of $320 million. The target is a vertically integrated, tech-enabled chain of healthcare centers that combines integrative, functional, preventive, and regenerative medicine.
If approved, upon closing Nava Health MD expects to list on the Nasdaq.
Any cash remaining on the combined company’s balance sheet at the closing, after any redemptions and the settlement of transaction-related expenses, is expected to be utilized for working capital, growth, and other general corporate purposes.
The transaction is expected to be completed in the second quarter.
The SPAC raised $75 million in an August IPO, initially with plans to focus on identifying businesses in the real estate industry.
Gordon Feinblatt is legal counsel for Nava Health and Loeb & Loeb is legal counsel for 99 Acquisition. Read more.
